BROOKFIELD Corp ON Increases Stake in NIKE, Inc. $NKE

Key Points

• BROOKFIELD Corp ON increased its stake in NIKE, Inc. by 36.2% during the first quarter, owning 658,598 shares valued at approximately $41.8 million after acquiring an additional 175,000 shares.
• Several institutional investors, including Goldman Sachs and Wellington Management, have significantly increased their holdings in NIKE, contributing to a strong institutional ownership of 64.25% of the stock.
• NIKE recently announced a quarterly dividend of $0.40 per share, representing an annualized dividend yield of 2.2%, with an ex-dividend date set for September 2nd.

BROOKFIELD Corp ON boosted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 36.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 658,598 shares of the footwear maker's stock after purchasing an additional 175,000 shares during the period. BROOKFIELD Corp ON's holdings in NIKE were worth $41,808,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NKE. Goldman Sachs Group Inc. increased its stake in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the period. Wellington Management Group LLP increased its stake in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Jennison Associates LLC purchased a new position in NIKE in the 1st quarter worth approximately $509,051,000. Nuveen LLC purchased a new position in NIKE in the 1st quarter worth approximately $502,285,000. Finally, Vanguard Group Inc. lifted its holdings in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after buying an additional 4,957,494 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NKE shares. The Goldman Sachs Group increased their price objective on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Bank of America increased their price objective on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Royal Bank Of Canada dropped their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a report on Tuesday, May 20th. Robert W. Baird increased their price objective on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a report on Friday, June 20th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $78.67.

NIKE Price Performance

NKE opened at $74.32 on Friday. The stock has a fifty day simple moving average of $75.46 and a two-hundred day simple moving average of $67.87. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a market cap of $109.76 billion, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 earnings per share. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.

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